The latest research study “UV LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global UV LED market size reached US$ 674.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,768.3 Million by 2028, exhibiting a growth rate (CAGR) of 16.1% during 2023-2028.
Ultraviolet (UV) light-emitting diodes (LEDs) are solid-state electronics that emit light when an electrical current passes from the positive to the negative side of the circuit. These diodes are eco-friendly as they consume less energy and do not contain harmful mercury and generate ozone. They are widely used for molecular detection, biological inactivation, high-resolution imaging and industrial curing of printers, coatings, and adhesives. As a result, UV LEDs are gaining immense traction as a viable alternative to traditional UV light sources, such as mercury arc lamps, grid lamps, and hot and cold cathode lamps, due to the improvements in their flux density, stability, and life hours.
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UV LED Market Trends and Drivers:
The global UV LED market is primarily driven by the rising need for novel disinfection technologies for the surface inactivation of the virus amid the recent coronavirus disease (COVID-19) outbreak. Moreover, the surging adoption of LED technology for UV-curing commercial and industrial materials, such as inks, is another major growth-inducing factor.
Additionally, the escalating demand for environment-friendly techniques to produce optoelectronics and continual technological advancements in producing solid-state UV devices are positively influencing the market growth. Furthermore, the emerging trend of miniaturization in consumer electronics is propelling market growth.
Besides this, the rising applications of UV LEDs, such as deoxyribonucleic acid (DNA) analysis and germicidal for purifying surfaces, air, and water, are contributing to market growth. Other factors, including the increasing product applications in forensics and sterilization, favorable government policies, rising energy consumption, and rapid digitization, are also anticipated to drive the market further.
Global UV LED Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Asahi Kasei Corporation, Dr. Hönle AG, FUJIFILM Corporation, Heraeus Holding GmbH, Koninklijke Philips N.V., Lumileds Holding B.V., Nichia Corporation, Nordson Corporation, Osram Licht AG (ams AG), Phoseon Technology, SemiLEDs Corporation and Seoul Semiconductor Co. Ltd.
The report has segmented the market on the basis of region, type, material, application and industry vertical.
Breakup by Type:
- UV-A
- UV-B
- UV-C
Breakup by Material:
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- Sapphire
- Others
Breakup by Application:
- Curing
- Disinfection/Purification
- Indoor Gardening
- Counterfeit Detection
- Others
Breakup by Industry Vertical:
- Healthcare and Medical
- Agriculture
- Residential
- Industrial
- Commercial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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